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´Rara Avis´ Among Shopping Centers Stars in Spain

4/02/2014 – El Confidencial

Makes little noise and goes unheeded. However, in the last weeks, the real estate branch of Henderson closed two transactions in the Spanish market. In its investment facet, British company acquired 50% of the l´Aljub shopping center (Elche) from its partner, Grupo Lar, currently divesting in the sector. Although precise data is unavailable, the transaction has been valued at around €100 million.

By now, Henderson has bought Nervión, Miramar, l’Aljub and Bulevar and two medium-size complexes (Mijas and Meixueiro) in Seville, Malaga, Getafe, Elche, Mijas, Vigo and Madrid. (…) Average occupancy rate in each of the centers is close to 95%, let alone attractive yields and over-demand for space from the side of retailers.

The company is present in the United Kingdom, Germany, France and Italy. (…) Now, Henderson is trying its hand at strategical advisory, with success embodied in the recent sale of Espacio Coruña, a shopping center of 40.000 m2 bought by Spanish Eneas Real Estate. (…).

 

Original article: El Confidencial (Carlos Hernanz)

Translation: AURA REE

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